Swedish Saab reports strong order intake during the first quarter of 2022
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The figure was 610 million dollars (5.87 billion kronor) during the same period last year.
The increase is mainly attributable to medium-sized orders in important business areas. Saab’s international order intake also increased.
The company’s order backlog also grew to USD 10.87 billion (SEK 104.54 billion) during the first quarter of 2022, from USD 10.11 billion (SEK 97.2 billion) reported during the first quarter of 2021.
The company said it will try to increase its capacity gradually to meet the increased demand.
Saab’s net sales for the period were $ 960 million (SEK 9.22 billion), an increase of 1% compared to $ 950 million (SEK 9.09 billion) during the first quarter of 2021.
The company’s quarterly operating profit (EBIT) increased by 10% on an annual basis to MUSD 68 (MUSD 654). Gross revenue also increased by 5%, from USD 200 million (SEK 1.93 billion) during the first quarter of 2021, to USD 210 million (SEK 2.03 billion) during the first quarter of 2022.
The Swedish company’s net profit fell by 6% to $ 38.68 million (SEK 372 million) during the first quarter of this year, from $ 41.18 million (SEK 396 million) the year before.
Saab’s President and CEO Micael Johansson said: “During the first quarter of the year, we continued to see strong interest in Saab’s portfolio, especially in Dynamics and Surveillance. Order intake increased by 38%, driven by medium-sized orders in most business areas. Order intake in our international markets increased by 78%.
“Dynamics received orders for training systems for the USA and Finland and Surveillance received a contract for a civilian security solution in Australia. At Kockums, a large contract was received from Sweden for the mid-term upgrade of the third Gotland class submarine. ”
Earlier this month, Saab secured a $ 16.2 million contract to supply combat training simulators to the Finnish Armed Forces.
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